Clean Max Enviro Energy Solutions Limited announced that its shareholders have approved all 32 ordinary resolutions seeking approval for material related party transactions (RPTs) with various subsidiaries and associates. The approval was secured through a postal ballot conducted via remote e-voting, concluding on September 24, 2026.

The resolutions covered transactions with entities including Clean Max Ahhope Private Limited, Clean Max Astria Private Limited, and Clean Max Como Private Limited, among others. The list also included transactions with wholly owned subsidiaries such as Clean Max Ni Private Limited and step-down subsidiaries like Clean Max Beta Private Limited. Additionally, approvals were sought for transactions between fellow subsidiaries, specifically between CMES Power 2 Private Limited and Clean Max Kenai Private Limited.

Voting Results Overview

The voting process was overseen by Ms. Nikita Kothari, the appointed scrutinizer. The results indicated overwhelming support from public shareholders, while the promoter and promoter group abstained from voting as they were interested in the agenda items. The total number of shareholders on record as of the cut-off date was 24,526.

Shareholder Participation Analysis

The data reveals a distinct pattern in shareholder participation across different categories. Public institutions demonstrated high engagement, with 84.87% of their holding voting in favor of the resolutions. In contrast, public non-institutional investors had a lower participation rate, with approximately 55.76% of their holding casting votes. The promoter group, holding 57,930,860 shares, recorded zero votes polled, consistent with regulatory requirements for interested parties in RPT approvals.

What the Numbers Show

A close examination of the voting data highlights the concentration of support among institutional investors. While the overall turnout was 35.79% of total outstanding shares, the weight of institutional votes (25,788,933 votes) significantly outweighed that of retail non-institutional investors (16,256,021 votes). This suggests that institutional confidence played a pivotal role in passing these material RPTs, which involve complex inter-company dealings within the Clean Max group structure.

The approved transactions are deemed effective from September 24, 2026, the last date of e-voting. The detailed voting results and the scrutinizer's report have been uploaded to the company's website and the Registrar and Transfer Agent's portal for public record.

Clean Max Enviro Energy Solutions appointed Vipin Balan as Head - Projects on September 21, 2026. The company’s board also approved the sale of equity stakes in three wholly owned subsidiaries to unrelated third parties.

Balan brings over 31 years of experience in wind and solar energy projects across India. He holds a PGDM in Marketing and is a Mechanical Engineer. His previous roles include senior positions at Enel Green Power, GE Renewables, British Petroleum, and Enercon. He will serve in the role on a full-time basis starting immediately.

Subsidiary Stake Sales

The board approved the disposal of 26% stakes in Clean Max Kyuu Private Limited, Clean Max Roku Private Limited, and Clean Max Ilgohp Private Limited. Each transaction involves the sale of 2,600 shares for a consideration of ₹26,000.

Share purchase agreements for all three transactions are expected to be executed by December 31, 2026. None of the buyers belong to the promoter group or are related parties. The transactions do not constitute related party transactions under SEBI regulations.

Financial Impact

Clean Max Kyuu and Clean Max Roku were incorporated in June 2026 and April 2026 respectively. Neither entity contributed to turnover or net worth during the last financial year. Clean Max Ilgohp reported nil turnover for FY25-26. Its net worth stood at ₹-69,252 as on March 31, 2026, representing 0% of the consolidated net worth of the parent company.

The disclosures were made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.